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Windows 8 is the new version of microsoft windows,a family of operating systems.it is produced by microsoft for use on personal computers, including home and business destops, laptops, net books, tablet pcs ,servers,and media center pcs.it adds support for ARM microprocessors in addition to the traditional x86 microprocessors from intel and AMD. Its user interface […]

When any company is running a business on loss from many days, there is no improvement in his/her financial position then then in such condition company is brought to an end. On the liquidation of the company, the assets and property of the company are sold under supervision of the government. Amount realized by sale […]

Insolvency When any person has more debts due to various circumstances, it is not possible for him to pay debts fully. Then he takes shelter of government to get rid of his debts. His property is sold under the supervision of government. The amount realized by sale of his property is distributed amongst his creditors […]

Transactions which are being done by Business men , It writes in journal. Then after we prepare the ledger .then after we prepare trial balance. With the help of trial balance we prepare final account. Business man after making final account analyzing profit and loss. Profit and loss can be measured annually, semi annually, quarterly […]

A Trial balance is a statement showing the balances or total of debits and credits of all the accounts with a view to verify the arithmetical accuracy of the posting in to the ledger. This is based on double entry. Therefore the equality of Debits and credits posted in ledger should be verified at […]

A Ledger contains a classified summary of a business transactions pertaining to given period. Posting is the process of transferring the entries from the books of original entries to the ledger. Separate accounts are opened in it. Debit side is greater than credit side than in this case credit side will be written as balance […]

The book in which transactions are written systematically for the first time is known as journal . The process of recording transactions in journal is treated to be as journalizing. There are five columns in journal entries as follows: Date, Particulars, Lf, Dr Amount , CR Amount . Lf stands for ledger folio. DR- WITHDRAWL […]

In simple word, Debit means the amount reduce from your account and Credit means the amounts credited in your account. For example- when A Person gives loan to another person,the loan given is an asset to the giver because it generate income for him. So it has to be debited and cash account has to […]

The two words have been derived from French and latin languages. Here debet , a middle French word and debitum ,a latin word which mean to owe or that which is owed because debit which we abbreviate as Dr . Same is the story of credit or creditum which mean that which is entrusted or […]

In this post We will discuss about journal : JOURNAL- The book in which transactions are writtren sysmatically for the first time ,these are known as journal. Second name of it is books of original entry. Ledger- A Ledger contains classified summary of a business transactions pertaining to a given period. Journalising- The process of […]